The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
As the risk of government default is almost by definition [or in theory] negligible, government debt doesn't need to be secured, does it?
Bush is a symptom, not the disease.
Of course, there is then the issue of government being acually willing to reimburse its creditors, which affect the state rating.
Un roi sans divertissement est un homme plein de misères
Gazprom had a better rating than Russia when it was using its gas export contracts as collateral, because the only way it could default on that debt was to stop delivering gas, a much more violent step nowadays, diplomatically, than just defaulting on payments.
That's why we were happy to lend money to Gazprom, effectively taking Gaz de France risk while being paid margins sized on Russian risk (then - Russian risk today pays very little). Ah, good ol' times...
In the long run, we're all dead. John Maynard Keynes
by Frank Schnittger - Dec 6 10 comments
by Frank Schnittger - Dec 5 8 comments
by Metatone - Dec 5 11 comments
by ARGeezer - Dec 6 23 comments
by Frank Schnittger - Dec 5 4 comments
by marco - Nov 30 8 comments
by Oui - Dec 6 18 comments
by vbo - Nov 21 9 comments
by gmoke - Dec 8
by Oui - Dec 8
by ARGeezer - Dec 623 comments
by Oui - Dec 618 comments
by Frank Schnittger - Dec 610 comments
by Frank Schnittger - Dec 54 comments
by Frank Schnittger - Dec 58 comments
by Metatone - Dec 511 comments
by marco - Nov 308 comments
by afew - Nov 2845 comments
by Bjinse - Nov 2413 comments
by Oui - Nov 2317 comments
by vbo - Nov 219 comments
by Metatone - Nov 2030 comments
by gmoke - Nov 195 comments
by Oui - Nov 196 comments
by Cyrille - Nov 18107 comments
by Ted Welch - Nov 1510 comments
by Oui - Nov 14
by Oui - Nov 1210 comments